Mortgage: Interest reaches new historical low of 1.00% in September
13 Nov 2019
The average mortgage loan interest rate reached a new all-time low in September for the third consecutive month, dropping 11 basis points (bp) to 1.00%, the Bank of Portugal (BdP) said today.
"In new mortgage loans to households, the average interest rate declined by 11 basis points (bp) to 1.00%, reaching a new historical low for the third consecutive month" BdP.
Regarding consumer credit, the average interest rate was 6.97%, and for other purposes it was 3.24%.
In total, "volumes of new operations for housing, consumption and other purposes totaled 915,462 and 284 million euros, respectively."
The average interest rate on loans to companies (non-financial corporations) in September was 2.18%, up from 2.15% in August.
In deposits, the average interest rate on deposits to households also reached "a new historical low of 0.08% for the second consecutive month".
In the corporate segment, up to one year, the average interest rate was 0.09% up to September, one basis point lower than the previous month.
Source: Lusa, Diario Real Estate, 12 November 2019